Why is my co-owner allowed to withdraw part of his Retirement Account savings while I am not allowed to do so?
In households where the property does not last all co-owners until age 95, only the co-owner(s) who are covered by the lease until age 95 can choose to set aside their Full Retirement Sum (FRS) with a mixture of property (up to half the FRS) and cash, and hence withdraw their Retirement Account savings down to their Basic Retirement Sum*.
* Excluding, generally, interest earned, government grants and top-ups made under the Retirement Sum Topping-up Scheme.
Find out more about the importance of having a property lease that lasts until you are 95 years old.
This information is sourced from CPF
Related questions
Can I withdraw my Retirement Account savings if my property lease cannot last me until I am 95?
I did not use my CPF savings for my property. Can I withdraw my Retirement Account savings using my property?
I am an undischarged bankrupt. Can I still choose to withdraw my Retirement Account savings using my property?
I have used CPF savings for my property which the remaining lease can last me until age 95. Can I withdraw my Retirement Account savings using my property?
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